EDX Markets, a Hoboken, NJ-based digital asset marketplace, raised an undisclosed amount in equity funding.
Backers included Miami International Holdings, DV Crypto, GTS, GSR Markets LTD, and HRT Technology, which joined a coalition of founding investors, including Charles Schwab, Citadel Securities, Fidelity Digital AssetsSM, Paradigm, Sequoia Capital, and Virtu Financial.
The company intends to use the funds to develop its trading platform and solidify its market leadership position.
Led by CEO Jamil Nazarali, EDX is a digital asset marketplace designed to enable safe and compliant trading of digital assets through trusted intermediaries. It builds on practices from traditional finance to provide customers with benefits including liquidity, competitive quotes and a non-custodial model designed to mitigate conflicts of interest. The service also introduced a retail-only quote to the crypto markets, allowing participants the benefit of better pricing for retail-originated orders. Products traded on EDX include Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BCH).
Later this year, EDX will launch EDX Clearing to settle trades matched on EDX Markets. The clearinghouse will facilitate trades against a central counterparty, allowing participants to benefit from enhanced price competition and reduced settlement risks, while increasing operational efficiencies.
